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Medicare Supplement, also known as Medigap plans in Florida are designed to help cover health-care costs associated with Medicare, Part A and Part B, like copayments, coinsurance, deductibles, and other out-pocket expenses. You may have a number of Medicare Supplement plan options depending on where in Florida you live, so it may be a good idea to understand what each Medigap insurance plan covers and at Warsh Financial Group we can guide you to pick the best plan for you!
Regardless of which plan you choose, you must already be enrolled in Medicare, Part A and Part B, in order to enroll in Medigap in Florida. Your Medigap Open Enrollment Period starts the first day you are both age 65 or older and enrolled in Medicare Part B. This period lasts for six months, and it’s generally the best time to join a Medigap plan. During this time, you can sign up for any Medicare Supplement plans, and not be subject to medical underwriting or restrictions for pre-existing conditions. Basically, an insurance company can neither deny enrollment nor charge more for a Medigap plan. If you decide to join a Medigap policy at another time, you may be denied coverage or charged extra for the insurance policy.
Additionally, remember that Medigap plans are meant to supplement rather than replace Original Medicare. You still need to keep paying your Medicare Part B premium in order to keep your health insurance coverage.
Choosing a Medigap plan in Florida
As we have covered, Medicare Supplement plans in Florida with the same letter designation don’t vary in coverage or benefits. However, each independent insurance company that offers Medicare Supplement plans can determine its own monthly premium cost. This means that if you live in Boca Raton in Palm Beach County you may pay more or less than a resident of Fort Lauderdale in Broward County for an identical Medicare Supplement plan. Knowing the difference in costs, it may be a good idea to compare all Medicare Supplement plans available in your area, and then choose a Medigap plan in Florida based on your individual budget and health needs, If you need any help choosing the right plan for you please call Warsh Financial Group for assistance